I am adding this for other people who have asked for it in the past.
Customers have requested the software not reset the average cost of an item to zero when selling out of stock.
In Total Office Manager, a modification is needed to add to the register the reconciliation of the Cost of Good Sold and
the asset. This entry would be:
• If the cost entered is higher, a credit to the item asset account to reduce the value on hand and a debit to the item expense/COGS account to increase the value of Cost of Goods Sold.
• If the cost entered is lower, a credit to the item expense/COGS account to reduce the value of Cost of Goods
Sold and a credit to the item asset account to increase the value on hand.
Invoice Item Setup
Currently, in Total Office Manager, the average cost is resetting to zero.
When an item has no quantities available, the average cost displayed is the last average cost.
Note: This is complicated and there is more I could write on the topic. This is meant to serve as an overview for TOM users.
2 thoughts on “Inventory Average Cost Sell to Zero”
This would save us at least 20 hours or more of work a month having to go back and fix zero costed invoices.
This work has been written up and scheduled.